AFTER a dormant year it seems the time is right for initial public offerings, with MetroCoal yest...
MetroCoal will issue 40 million ordinary shares at 25c each and is scheduled to list on the Australian Securities Exchange on December 4.
The funds raised will be used to continue the company’s exploration and evaluation programs targeting thermal coal in the Surat Basin.
The company holds seven exploration tenements covering 4000 square kilometres.
MetroCoal is 79% owned by Metallica Minerals, which closed up 5.36% on the news at 29.5c.
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